ELTI definition

ELTI means the incentive offered under the Executive Officers Long Term Incentive Plan or similar incentive that may replace ELTI that provides performance-based compensation to select senior executive officers and ensures full deductibility of benefits paid under the Plan as performance-based compensation under Code §162(m).
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Examples of ELTI in a sentence

  • Any amounts paid under paragraphs (a) through (f) immediately above shall be a respective offset to any amounts remaining to be paid to the Executive for the COC Year, in the case of the STI bonus, and for the open bonus periods that include the COC Year, in the case of the LTI bonus and the ELTI bonus.

  • There is no action, suit, proceeding, investigation, audit, claim, demand, deficiency or additional assessment in ELTI, pending or threatened against or with respect to any Tax attributable to ELTI, its Subsidiaries or their assets or operations.

  • The ELTI award payouts are based on a 3-year performance of the company and the actually amount of the 2012 payout will be determined within a reasonable time of the end of 2011, for the 2009 ELTI 3-year period, based on the company’s performance.

  • The operations of ELTI and its Subsidiaries have been conducted in accordance with all applicable laws and regulations of all Governmental Bodies having jurisdiction over them, except for violations thereof which are not likely to have a material adverse effect on the business or financial condition of ELTI and its Subsidiaries, taken as a whole, or which would not require a payment by ELTI or its Subsidiaries in excess of $2,000 in the aggregate, or which have been cured.

  • PTS and ELTI shall (a) file with applicable regulatory authorities any applications and related documents required to be filed by them in order to consummate the contemplated transaction and (b) cooperate with each other as they may reasonably request in connection with the foregoing.

  • ELTI shall prepare and file, or cause to be prepared and filed, all such consolidated or combined Tax Returns that are required or permitted to include the income, or reflect the activities, operations and transactions, of ELTI or any Subsidiary, with respect to any taxable year or the portion thereof ending on or prior to the Closing Date, including, without limitation, ELTI's consolidated federal income tax return for such taxable years.

  • From the date hereof until the earlier of the Closing or the termination of this Agreement, ELTI shall not solicit or negotiate or enter into any agreement with any other Person with respect to or in furtherance of any proposal for a merger or business combination involving, or acquisition of any interest in, or (except in the ordinary course of business) sale of assets by, ELTI, except for the exchange of the ELTI Shares for the PTS Shares from PTS's shareholders.

  • No director or officer of ELTI owns any property, asset or right which is material to the business of ELTI and its Subsidiaries, taken as a whole.

  • ELTI will deliver 9,000,000 shares of its common stock (the "ELTI Shares"), and PTS will deliver 300,000 shares of its common stock (the "PTS Shares"), which represents all of the issued and outstanding shares as well as the sum of US$1 million to be paid in $80,000.00 monthly installments commencing August 1, 2001 until July 1, 2002, with the remaining $40,000.00 to be paid August 1, 2002.

  • There is no action, suit, inquiry, proceeding or investigation by or before any court or Governmental Body pending or threatened in writing against or involving PTS or any of its Subsidiaries which is likely to have a material adverse effect on the business or financial condition of PTS, ELTI and any of their Subsidiaries, taken as whole, or which would require a payment by PTS or its subsidiaries in excess of $2,000 in the aggregate or which questions or challenges the validity of this Agreement.